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P~ESOLUTION 69-2 OF THE CITY COUNCIL OF THE CITY OF SANTA ANA, CALIFORNIA, ADOPTING, RATIFYING AND CONFIRMING MEMORANDUM OF UNDERSTANDING FOR SETTLEMENT OF WEST COAST PIPE CASES BETWEEN ALL PLAINTIFFS AND AMERICAN PIPE AND CONSTRUCTION COMPANY AND AUTHORIZING THE CITY ATTORNEY TO SIGN THE RELEASE OF CLAIMS W~EREAS, the CITY OF SANTA ANA, CALIFORNIA, hereafter called entity, has previously authorized the Attorney General of the State of California to institute on its behalf one or more law suits under the Federal Antitrust Laws which law suits were in fact filed against defendants United States Steel Corporation, Smith-Scott Company, Inc., Kaiser Steel Corporation, United States Industries, Martin-Marietta Corporation, United Concrete Pipe Corporation, and American Pipe and Construction Co; and WI4_EREAS, pursuant to court orders, similar actions brought by the Federal Government and other plaintiffs in the States of California, Oregon, Washington and Hawaii were all coordinated before a single Federal District Court Judge; and WHEREAS, in 1967 the actions against all defendants, with the exception of American Pipe and Construction Co., were settled and compromised on a lump sum basis, the proceeds being distributed amongst the various plaintiffs pursuant to an agreement, all of which was duly approved and ratified by entity and approved by the Court; and WHEREAS, a condition of the acceptance of said partial settle- ment by certain plaintiffs not represented by the Attorney General of the State of California was an agreement by and between the plaintiffs concerning the conduct of the litigation still remaining against, and the allocation among plaintiffs of the expected recovery from defendant American. This agreement known to plaintiffs as the Western Associated Pipe Plaintiffs Organization Compact provides, among other things, for (a) common sharing of expenses; (b) the retention of a lead counsel to prosecute and try all cases against the remaining defendant American Pipe and Construction Co. under the supervision of an Executive Committee of the plaintiffs party to the compact; and (c) the distribution of any recovery against American to all plaintiffs proportionately to their verified transactions with American over the fourteen year period 1950 through 1963; and WHEREAS, on July 14, 1967, the Attorney General of the State of California entered into such Compact, hereinafter called WAPPO, on behalf of entity. Since then, the agreements embodied in the WAPPO Compact have been and are being carried out with the Attorney General of California as chairman of its Executive Committee; and WHEREAS, Plaintiffs' counsel, acting through their Executive Coramittee and lead counsel, have now negotiated and reached agreement on the terms of a settlement and compromise of the litigation with defendant American Pipe and Construction Co., the terms of which are more fully set out in the attached document entitled "MEMORANDUM OF UNDERSTANDING FOR SETTleMENT OF WEST COAST PIPE CASES BETWEEN ALL PLAINTIFFS AND AMERICAN PIPE AND CONSTRUCTION COMPANY"; and WHEREAS, Such Memorandum of Understanding provides for payment by American to all plaintiffs of the lump sum amount of eight million five hundred thousand dollars ($8,500,000) over a period of seven years with interest; -1-